Akash Network’s native token, AKT, has seen a significant increase in value, becoming the top gainer among the top 100 assets after a major exchange in South Korea announced its listing. Over the past 24 hours, AKT has surged by 48% and is currently trading at $6.03. This increase has boosted the token’s market cap to $1.4 billion, ranking it as the 65th-largest cryptocurrency. Additionally, Akash Network’s daily trading volume has spiked by 1,560%, reaching $65 million.
Despite this recent price rally, AKT is still down by 23% from its all-time high of $8.08 in April 2021. The surge in AKT’s price coincided with the announcement from Upbit, the leading crypto exchange in South Korea, that it would be listing AKT with KRW, BTC, and USDT trading pairs. Trading of AKT on Upbit is set to begin at 10:00 UTC on April 23.
Data from Santiment reveals that Akash Network’s social volume has increased by 200% in the past 24 hours, with most of the activity coming from platforms like Reddit and Bitcointalk. The Relative Strength Index (RSI) for AKT has also shown a slight increase from 47 to 49, indicating that the token is neither overvalued nor undervalued despite the price surge. An RSI above 70 would suggest that AKT is overbought and could lead to increased price volatility, while staying below the 50 mark could indicate a steady bullish trend.
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